Lodgment Penalty Amnesty Program
The ATO’s Small Business Lodgment Penalty Amnesty Program
A lodgment penalty amnesty program is being provided for small business with an aggregated turnover of less than $10 million to get their tax obligations up to date.
Obligations to which the amnesty applies
The amnesty applies for outstanding tax statements due during the period between 1 December 2019 and 28 February 2022.
The amnesty period
It runs from 1 June 2023 to 31 December 2023. The overdue obligation must be lodged within that amnesty period to be eligible.
Eligible small business taxpayers that lodge eligible overdue forms within the amnesty period will have any associated failure to lodge (FTL) penalties remitted.
Remission will happen automatically. Taxpayers will not need to separately request a remission.
The amnesty does not apply to any interest charges which may apply to overdue payments or to other administrative penalties such as penalties associated with the Taxpayer Payments Reporting System.
Need assistance in this Amnetsy Program Payment? Contact us now.
Yan (Jenny) Qi CA
Founder of Progress CA Pty Ltd
Contact no. 0403 050 779
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Yan Qi CA
Mobile: 0403 050 779
This information has been prepared without taking into account of your objectives, financial situation, or needs. Because of this you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation, and needs. This website provides an overview or summary only and it should not be considered a comprehensive statement on any matter or relied upon as such.